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Both market advisors and researchers have often suggested multiyear rollover hedging as a way to increase producer returns. This study determines whether rollover hedging can increase expected returns for producers. For rollover hedging to increase expected returns, futures prices must follow a...
Persistent link: https://www.econbiz.de/10009445662
The efficient market hypothesis (EMH) is tested in the case of the AthensStock Exchange (ASE) after the introduction of the euro. The underlyingassumption is that stock prices would be more transparent; their performanceeasier to compare; the exchange rate risk eliminated and as a result we...
Persistent link: https://www.econbiz.de/10009465449
. Moreover, a number of surveys present the assessment of payout policy, especially dividend policy, from decision …
Persistent link: https://www.econbiz.de/10009451163
In modeling expectation formation, economic agents are usually viewed as forming expectations adaptively or in accordance with some rationality postulate. We offer an alternative nonlinear model where agents exchange their opinions and information with each other. Such a model yields multiple...
Persistent link: https://www.econbiz.de/10009447863
bubbles, a bubble itself is not sufficient to cause real-side disruption. What central bankers should learn from Japan …
Persistent link: https://www.econbiz.de/10009472319
It has been widely assumed that there was a bubble in the U.S. housing market after1999.This paper analyzes the extent to which that was true. We define a bubble as: (1) a regime shift that is characterized by a change in the properties of deviations from the fundamentals of house price growth,...
Persistent link: https://www.econbiz.de/10009476926
learning. In Essay 1, I set up a general equilibrium model of trading with differential beliefs and learning. The dividend … techniques to analyze the dynamics of a speculative bubble in a very special case of a Markov dividend process and the prior …
Persistent link: https://www.econbiz.de/10009462812
Incluye bibliografía ; Este documento estudia la dinámica de los precios de las acciones en un modelo tipo «árbol de Lucas» en el que los inversores tienen vidas finitas y aprenden de su propia experiencia. Los individuos actualizan sus expectativas mediante aprendizaje bayesiano basado en...
Persistent link: https://www.econbiz.de/10012530357
The study attempts to find out the trends in dividend payment and determinants of dividend decision. A sample of 607 … non-payers and low-payers of dividend has increased. Again, average dividend payments are on the rise continuously. It … means that there is no room for moderate dividend payment. Average dividend for the past three years is the most consistent …
Persistent link: https://www.econbiz.de/10009457443
Dividend declaration is considered as one of the key focus areas of the firm’s financial policy. The core of dividend … policy includes the decision like whether to distribute profits to the shareholders in the form of dividend or to retain. The … dividend decision, one of the widely researched topics, yet named as dividend puzzle, has been a center of attraction for the …
Persistent link: https://www.econbiz.de/10011315665